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Vietnam collects huge tax amounts from e-commerce platforms in H1

The Saigon Times

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HCMC – Vietnam collected nearly VND4,000 billion in taxes from 57 foreign suppliers, including major companies like Google, Apple, Facebook, Netflix and Tiktok, in the first half of this year.

These tax amounts surpassed their total tax payments from last year, according to the General Department of Taxation.

Through a portal established for foreign suppliers last March, these 57 companies completed tax registration, declaration and payment. Out of the VND3,940 billion paid in taxes, around VND3,400 billion was directly declared and paid through the portal while VND540 billion was deducted by Vietnamese parties on their behalf.

Last year, these cross-border giants paid almost VND3,500 billion in taxes, with VND1,850 billion made via the portal and nearly VND1,630 billion through Vietnamese deductions.

The tax sector also said that e-commerce platform trading contributed significantly to tax revenue. In the first five months, it reached VND246 billion, representing 34% of the total revenue collected in 2022. In 2022 and 2021, Vietnam collected VND716 billion and VND261 billion in taxes from these suppliers, respectively.

Currently, there are 333 active e-commerce platforms, and in the first quarter of this year, 64,300 individuals and 22,840 businesses carried out nine billion transactions on these platforms, with a total value of VND11,500 billion.

The General Department of Taxation is working on regulations to utilize information extracted from the e-commerce platform database for more effective tax management.

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